Valuers World
  
CAUTION LIST BY IBA!!!!!!!!!!!
Goto page Previous  1, 2
 
Post new topic   Reply to topic    Valuers World Forum Index -> Discussions
(HELP?) View previous topic :: View next topic  
Author Message
suchdevs



Joined: 30 Aug 2008
Posts: 348

PostPosted: Wed Nov 19, 2014 10:36 am    Post subject: Reply with quote

in reference to the above matter, IBA, in its circular to the member banks, hosted at http://www.iba.org.in/Documents/IBA_Cir0001.pdf, has directed all the banks to: give the parties a fair opportunity to explain their position before reporting their names to IBA for placing it on the IBA's caution list of TPEs. but from the above post it is evident that IBA has not bothered to verify if the bank has actually followed the said procedure.

it is imperative that we persuade IBA to adopt a procedure of reviewing the proposals sent by member banks, and confirm the irregularity, before they are accepted, and TPEs name added to the caution list. while it is true that action from IOV, PVAI etc institutes will help build the pressure, we must also understand and accept the power of the individual, and if we can create enough awareness amongst valuer fraternity to write to IBA on individual basis in sufficient numbers, with copies marked to IOV, PVAI, RBI and other professional bodies (like CAs and Advocates) named in the above circular, i am sure we can bring in a change

i invite other valuers to help evolve a comprehensive list of mail addresses that should be used for the mailing list adopted by individuals to register their voice in the above matter...

Back to top
View user's profile Send private message

tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Wed Nov 19, 2014 12:00 pm    Post subject: Reply with quote

Dare valuers.

Functions of IOV is mentioned as:

IOV being the premier valuation association of India assists and guide general public, government and semi-government bodies in all types of valuation matters. IOV assists and guides general public, government and semi-government bodies in adjudicating valuation-related disputes.IOV being the premier valuation association of India assists and guide general public, government and semi-government bodies in all types of valuation matters. IOV assists and guides general public, government and semi-government bodies in adjudicating valuation-related disputes

ARE THEY DOING THIS !?!?!?

DO IOV  IS MEANT FOR ONLY "THE CROWNING GLORIES"  like SRI. Rs.Baabu and his welfare??!?!?

Regards

T D Suresh Babu

Back to top
View user's profile Send private message

ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Wed Nov 19, 2014 4:58 pm    Post subject: Reply with quote

[quote="djagan1949"]

Mr. Mohit Mehta,

Evaluation by bank is only where dispute is there and bank likely to take penal action on valuer. I never even remotely mentioned that routine works to be evaluated by bank. I sincearly feel you have misunderstood my comments in a different way and in a negative perception.

Fees is a different thing whether valuer takes good fee or do service free of cost the work should be near accurate.

Regards

Vr. D. Jagannathan

[/quote]

Dear Vr.D.Jagannathan,

Thank you for your above expression. Sir Please send me list of banks along with letter of empanelment with whom you are empanelled we would be happy to engage you to take benifit of your accurate services.

Kindly email on vac@consultant.com your business card as well.

Thanking You,

Mohit Mehta

+91-9892489265

Back to top
View user's profile Send private message

tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Fri Nov 21, 2014 8:01 am    Post subject: Reply with quote

[quote="djagan1949"]

Dear T D Suresh Babu Ji,

You are technically very good, phylosophically also excellent, you have inherent tendency to participate in others difficulties and help them, you have inborn quality to discourage things not happening in larger interest. I bow and salute to you for these good virtues rarely found with people of today's fast world. But you have to be more  more practical also.

We are living in a country where First Citizen our beloved President Of India or Hon'ble Lok Sabha Speaker or State Constitutional Authority Governer who are supposed to be neutral unbiased are elected after they resign on paper from primary membership of a party. You know the rest how they function.

Verbal recommendations for inclusion in Panel or assaignments will not hold water when some serious lapse is noticed. Only bank and valuer have to face the problem. Sir, let us discuss here only based on available papers or records. We must evolve a good straight forward system for a enduring professional practice. As a member you can give a charter of reasonable demands for our  safe professional practice to IOV or PVAI and say do it.

Warm Regards

Vr. D. Jagannathan

 

[/quote]

Dear Jaganji,

Thank you very much for your views on me.

Nevertheless I understand from you that the IOV Office bearers make verbal recommendations to Banks  in favour of themselves.

In the present IBA case It is a open and proven case "That the SUPER chairman " had openly  declared that he will not  be available for IOV meetings and the secretary will be doing his jobs as he is busy with the assignments of IBA above  500 CRORES.

What other proof you  require when the beneficiary himself openly and blatantly says so?1?1

IF you really like the present functioning  of IOV and LOVE the beneficiary the SUPER chairman kindly come out with  the good deeds he did for the valuer fraternity and/or atleast to you!

Or declare that you are scared of him !

I understand your friendly gesture that I should not be affected by him ! I respect your  affection over me!

Regards

T D SURESH BABU

 

 

 

Back to top
View user's profile Send private message

djagan1949



Joined: 07 Jan 2009
Posts: 313

PostPosted: Sat Nov 22, 2014 1:37 pm    Post subject: Reply with quote

Dear Suresh Babu ji,

My association or interactions with Chennai IOV is analogues to connection between Amaavasai and Abdhul  Khadar. Chennai is a very big area with 1000’s of bank branches compared to few dozen branches and valuers in Pondy. I don’t feel any pinch, pain or gain here due to day to day decisions or recommendations of Chennai IOV. I earnestly wish all senior valuers like you in Chennai must have equal importance and opportunity in professional practice.

About me getting scared off is only a logical question. Though I want to live like Nachikethan ( refer Katha Upanishad ), sometimes I get scared to disagree with angry Angels like you. I dislike this site used as a dust bin even inadvertently. The objective of this site, as we all know is not for calling names. Let us respect it. Reputed newspapers like THE HINDU for reporting true facts, which is their main business objective, face litigation like defamation putting the Editor into an embarrassing situation.

We are not born for the first time and we live and experience here according to our poorva Karma. We reap what we sowed in our last birth. So whether we get banquette or bullet we have to accept gracefully with a smile for our own peaceful living.

Warm regards

Vr. D. Jagannathan

 

Back to top
View user's profile Send private message

tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Mon Nov 24, 2014 8:16 am    Post subject: Reply with quote

Dear JaganJi,

You truly and religiously represent the sample of valuers members of IOV. You are worried about the editor of THE HINDU,the owner of Valuersworld and the welfare of persons like me who call a spade a spade but not about the welfare of the valuer members.

We all suffer BECAUSE OF THE FATALISTIC belief of you. "YOU WORSHIP LORD KRISHNA WHO ASKED ARJUNA TO FIGHT WITH HIS OWN KITH AND KINS FOR ESTABLISHING DHARMA !" I am confident that you do not believe in your own RELIGION. You believe only in FATALISM! After receiving  Bullet there is no PEACEFUL living it is only Death!

I believe the words of LORD KRISHNA and feels HE guides me.Let there be  hundreds and and thousands of intellectuals be with the ADHARMA ruling DHURBUDDHI DURIYODHANA. LET ALONE LORD KRISHNA BE WITH ME !

YOU intellectuals are spineless even to call a DURIYODHANA as DURIYODHANA !

DHARMAM ONLY WILL TRIUMPH! in the end.

REGARDS

T D SURESH BABU

Back to top
View user's profile Send private message

ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Sat Nov 29, 2014 1:47 pm    Post subject: Reply with quote

suchdevs wrote:

in reference to the above matter, IBA, in its circular to the member banks, hosted at http://www.iba.org.in/Documents/IBA_Cir0001.pdf, has directed all the banks to: give the parties a fair opportunity to explain their position before reporting their names to IBA for placing it on the IBA's caution list of TPEs. but from the above post it is evident that IBA has not bothered to verify if the bank has actually followed the said procedure.

it is imperative that we persuade IBA to adopt a procedure of reviewing the proposals sent by member banks, and confirm the irregularity, before they are accepted, and TPEs name added to the caution list. while it is true that action from IOV, PVAI etc institutes will help build the pressure, we must also understand and accept the power of the individual, and if we can create enough awareness amongst valuer fraternity to write to IBA on individual basis in sufficient numbers, with copies marked to IOV, PVAI, RBI and other professional bodies (like CAs and Advocates) named in the above circular, i am sure we can bring in a change

i invite other valuers to help evolve a comprehensive list of mail addresses that should be used for the mailing list adopted by individuals to register their voice in the above matter...

i SUPPORT SUCH INTIATIVE OF CREATING DATABASE OF EMAIL CONTACT SO THAT WE CAN CIRCULATE.
Back to top
View user's profile Send private message

suchdevs



Joined: 30 Aug 2008
Posts: 348

PostPosted: Wed Dec 03, 2014 3:43 am    Post subject: Reply with quote

thank you mohit for supporting the idea.

coming to the caution list of IBA, i have gone through the document, and my observations are as follows:

  1. the document has been uploaded on 14-12-2013, almost a year back. it states that the status is since 2011. which means this is not live data / updated frequently.
     
  2. in the entire document, 45 or so valuers are put on caution list, while only one has been removed from the caution list.

  3. against many of the valuers who have been put on the caution list, even the name of the bank, the complain number and date of complain etc details are not mentioned. this can be deduced to mean that IBA has not bothered to verify the genuineness of the complain, or irregularity by the valuer. the minimum IBA needs to do is reconfirm the validity of the irregularity by taking a direct explanation from the Valuer.

  4. several complains are for over valuation of property. while we do not know the merit of each case, it is important to know the modality by which the bank came to the judgment that the property has been over valued.

  5. few complain is for wrong identification of property. there is a recent judgement by the high court of gujarat, stating that an advocate cannot be held responsible for giving title clear report against forged documents provided to him. this is a landmark judgement, and if advocate, who has access to all the original documents, cannot be held responsible for giving TCR on forged documents, surely valuer cannot be held responsible for not being able to identify the correct property, if not clearly brought out in the documents available to him. (it will greatly help if we can have some court judgements to support this point)

  6. maximum complains are for incorrect / defective valuation report. it is important to bring it out clearly what is incorrect in each report, at least for the caution of valuer fraternity, if nothing else. only once the details are availalbe can this point be countered.


IBA is a voluntary organisation. hence i believe we will not be able to file any RTI applications with IBA. also it is going to be extremely difficult to get any response out of IBA. hence i suggest that we should file a RTI with RBI, as the apex body of banks in india, having entrusted IBA the role of preparing a separate website for maintaining records of TPEs involved in Frauds, to explain the above irregularities.

all suggestions are welcome...

Back to top
View user's profile Send private message

Display posts from previous:   
Post new topic   Reply to topic    Valuers World Forum Index -> Discussions Goto page Previous  1, 2
Page 2 of 2

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum

You are visitor no. 14733096


Copyright ValuersWorld.com © 2008

Powered by Kragos